Black Friday and Cyber Monday is a chance for customers to make massive savings on a whole range of different products. Here are our ten key tips to ensure you make the most out of sales season. ⭐Personal Finance ⭐Money Matters
Black Friday and Cyber Monday is no longer just a US tradition. It is now a global phenomenon and is bigger than ever in the UK. The sales season is now upon us, with Black Friday falling on 29th November and Cyber Monday following close behind on 2nd December.
It is often easy to be overwhelmed by the number of deals and offers that are thrown our way during this time of year. To cut through some of the noise, our experts have provided their 10 top tips for Black Friday and Cyber Monday to ensure you make the most of it.
Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92. Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92. Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00 Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00 Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24. Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.Maximise your options: Compare and apply for loans below with LoanTube
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1. Preparation is Key
Black Friday and Cyber Monday only come around once a year, so it is vital you are fully prepared before the big day. This means studying the adverts through the week, making lists of shops you wish to explore and signing up all to all newsletters to keep up to date with offers.
There will be thousands of others trying to get the deals you are after. Being prepared can mean you get ahead of them in the sales race.
2. Create a Wishlist
Many websites, including Amazon, allow you to set up a wishlist to keep track of all of the items you wish to buy. This doesn’t necessarily have to be retailer-specific – it just gives you an idea of what you are looking to buy, and can remind you in the mad rush when Black Friday comes around.
Having a list to hand is also particularly important when you get swept away with thousands of deals on products you don’t really want or need. It keeps your shopping focussed.
3. Start Early, Finish Late
In recent times, Black Friday and Cyber Monday have transformed into a week-long spectacle. Retailers will start early with their deals and savings, while online stores may continue their savings throughout the month. In fact, some retailers have already begun their sales!
To ensure you make the most of the best deals (which are likely to be snapped up the quickest), you will need to be aware of the opening times of certain stores and when deals go live online. A little research goes a long way in this regard.
4. Look at the Price, Not the Saving
This is a point that is often overlooked. Just because an item is half price doesn’t mean it is necessarily good value. Offers which are portrayed as “Was £200, Now £100” sometimes exaggerate the discount, as the original £200 price tag was far too pricey.
Do a little digging across a few different retailers to find out what the true price of the product is. Only then can you be sure that the discount is worthwhile.
5. Research your Wishlist
A discounted poor product is still a poor product. Ensure you have done your research on the items you are looking to purchase and read as many reviews as you can. Sales season can often see shoppers fighting over products that are not up to scratch in the first place.
This also applies to whether the product you are about to buy is actually compatible. Do you have an Android phone but are about to buy an accessory that only works with Apple devices?
6. Prepare your Online Accounts
If you are rushing to make use of that perfect deal, the last thing you need is a “Sign In” page where you have forgotten your password.
Taking ten minutes to sign up to many of the main online retailers (and remember any forgotten passwords) can save you a lot of precious time when you are rushing to make the most of the deals.
7. Be Social
Many hopeful shoppers will be scouring the internet looking for the perfect offers, all the while forgetting to check social media. Companies use social media to promote certain deals that won’t be present on their website.
Retailers will also often reward customers who like, follow or share their posts. Make sure you follow all of your favourite shops online to keep up to date with their deals.
8. Avoid Scams
Unfortunately, Black Friday and Cyber Monday is a good time of year for fraudsters and scammers to rear their ugly heads. With the sheer amount of sales, deals and adverts flooding our eyes, fraudsters can slip through the net and take advantage of the rush.
The advice from us is simple – use common sense. Never give out any credit card details if you are suspicious, and don’t give away login or password details. Be extra vigilant in relation to any unsolicited emails and always double-check before being drawn into a “too good to be true” deal.
9. Check the Return Policy
Buyer’s remorse is not a myth and Black Friday can leave you often feeling a sense of regret about spending money on something you just didn’t need. Make sure you ask every shop about their return policy.
This also includes returns for any faulty items, clothes that don’t fit or gifts which you need to return. Ask about how many “return days” you have and whether they refund the item or whether they offer in-store credit. Keep all receipts and always ask for a gift receipt if it is a gift.
10. Stick to your Budget
This is a tip which is quite important to us here at LoanTube. It sounds like a simple task, but so many people overspend during this time of year and it is easy to see why when Black Friday and Cyber Monday are designed to get you to spend money on things you weren’t intending to buy.
There will, of course, be opportunities to get brilliant savings, but don’t overdo it. Don’t fall into the trap of buying things you didn’t want and couldn’t afford. Set a budget and make sure you stick to it. Before you buy the product, ask yourself “do I really need it?”.
It is also noting for next year’s Black Friday – setting aside a little bit of money each week for big sales like this can mean you are better prepared to spend a little more in the sales, instead of splurging all of your money in one go.
How can LoanTube Help You?
Here at LoanTube, we understand that this time of year can have a strain on your finances. Our website can offer those who need a loan a quick and easy comparison service at no cost to you.
The application process is quick and easy, and we use a Soft Credit Check which means your credit score will not be harmed.
Whether it is to tide you over until the new year with a short-term loan, or it is to consolidate any existing debts, our comparison tool can compare actual APRs and interest rates across a number of different lenders we work with.
With LoanTube you are in safe hands. We promise to find you a loan that fits your exact needs from lenders who are fair, legitimate and above-the-line. We do not and will not work with loan sharks.
You can start your application today by applying for a quote.
